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REGISTERED NUMBER: 04120085 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Impossible Pictures Limited

Impossible Pictures Limited (Registered number: 04120085)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Impossible Pictures Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: T Haines
Mrs C A F Haines





REGISTERED OFFICE: 39 Long Acre
London
WC2E 9LG





REGISTERED NUMBER: 04120085 (England and Wales)





ACCOUNTANTS: We`ll Mind Your Own Business LTD
39 Long Acre
London
WC2E 9LG

Impossible Pictures Limited (Registered number: 04120085)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 292 530
292 530

CURRENT ASSETS
Debtors 6 5,540 54,833
Cash at bank 115,566 85,970
121,106 140,803
CREDITORS
Amounts falling due within one year 7 7,603 11,017
NET CURRENT ASSETS 113,503 129,786
TOTAL ASSETS LESS CURRENT
LIABILITIES

113,795

130,316

CAPITAL AND RESERVES
Called up share capital 51 51
Other reserves 26,488 26,488
Retained earnings 87,256 103,777
SHAREHOLDERS' FUNDS 113,795 130,316

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Impossible Pictures Limited (Registered number: 04120085)

Balance Sheet - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:





T Haines - Director


Impossible Pictures Limited (Registered number: 04120085)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Impossible Pictures Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible fixed assets and amortisation
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and Loss account over its estimated economic life. In all cases intangible assets are reviewed for impairment at the end of the first full financial year following acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Profit and loss account.

Impossible Pictures Limited (Registered number: 04120085)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Programmes in progress at the year end
For all productions, the stage of completion is dictated by the costs incurred to date relative to the overall production budget. Where productions are in progress at the year end and where the services invoiced exceed the value of work done, the excess is shown as deferred income. In instances where programmes in progress at the year have not been fully invoiced relative to the stage of completion, the balance of income for the stage of completion is recognised as accrued income. Any expected losses arising on productions in progress are recognised immediately.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Production
investment
£   
COST
At 1 June 2022
and 31 May 2023 382,834
AMORTISATION
At 1 June 2022
and 31 May 2023 382,834
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

Impossible Pictures Limited (Registered number: 04120085)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 416 1,726 2,142
DEPRECIATION
At 1 June 2022 121 1,491 1,612
Charge for year 104 134 238
At 31 May 2023 225 1,625 1,850
NET BOOK VALUE
At 31 May 2023 191 101 292
At 31 May 2022 295 235 530

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 917 -
Other debtors 3,639 54,825
Tax 984 -
Prepayments and accrued income - 8
5,540 54,833

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 674 1,738
Tax - 932
VAT 25 324
Other creditors - 180
Directors' loan accounts 5,904 6,843
Accrued expenses 1,000 1,000
7,603 11,017

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Impossible Pictures Limited (Registered number: 04120085)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

9. PENSION COMMITMENTS

The company operates a defined contributions scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs represent contributions payable by the company to the fund and amounted to £24,000 (2022: £24,000). The amount of pension contributions unpaid at the year end was £nil (2022: £nil).